Property laws
Can a life estate be for a length of time instead of until my death? I am wanting my son to live in my rental while i'm out of the country for 5 years. If I have this option I can reduce my real eastate taxes
Asked on 5/19/09, 1:51 pm
1 Answer from Attorneys
Robert Roemer
Robert Roemer
Re: Property laws
A life estate through its common meaning means a lifetime.However, a document can be prepared to cover the exact number of years that you want to give away the beneficial enjoyment of the property through lease or conveyance.This type of real estate transaction is better to be customized by an attorney so the actual goal is achieved. If you would like my assistance in structuring this transaction or anything else send me an e-mail with your phone number and a time to call you.
Sincerely,
Robert Roemer
Answered on 5/19/09, 4:24 pm
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